MNI China Daily Summary: Thursday, July 4

MNI BRIEF: China Has Four Months To Negotiate EU EV Agreement

RPT-MNI INTERVIEW: ISM Choppiness Not A Clear Signal For Worry

MNI: PBOC Net Drains CNY98 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1305 Thurs; -0.79% Y/Y

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

Factory Orders Decline as Non-EU Orders Dip

DMP survey increases probability of August cut

MNI: UK JUNE CONSTRUCTION PMI 52.2 (FCST: 54.0); MAY 54.7

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Tsy Auctions On Tap  Includes Record $50B 2Y Note

US TSYS/SUPPLY
  • 25-Aug 1130ET $30B 42D Bill CMB (912796TN9)
  • 25-Aug 1130ET $30B 119D Bill CMB (9127963L1)
  • 25-Aug 1300ET $50B 2Y-Note (91282CAG6)

July's 2Y auction drew high yld of 0.155% (0.193% in June) rich vs. current 0.162% WI.

BMO strategists say "speculative positions in the 2-year sector continue to hold in decidedly short territory so this positional skew could add a tailwind to a move back to the yield lows if those positions are forced closed." On the flipside, "August is mixed for 2-year auctions as eight of the last sixteen have tailed, seven have stopped through and one has stopped on the screws."
JP Morgan note "since the July auction, 2-year yields are roughly unchanged, as the market continues to price a Fed on hold for more than three years, and we expect front-end yields to continue to trade in a tight range." JP expects the 2Y to be easily absorbed "despite the increase in auction size.
BulletMarketsFixed Income Bullets
BulletMarketsFixed Income Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.